Square, the technology company that makes commerce and financial services easy and accessible, has partnered with Salt Edge, a leading open banking platform, to help streamline and simplify payment operations for sellers in the UK.
For over 15 years, Square has been combining hardware and software tools designed to help all-sized businesses streamline their services. Square has launched point-of-sale solutions like Square Online, Square Appointments, and Square for Restaurants, along with various smart tools. From cash flow, inventory, and team management to loyalty and marketing programs—all to take some of the complexity out of running a business, giving their customers time to focus on what they do best.
„With a strong global footprint and easy-to-integrate solutions, Salt Edge was a strategic choice, especially considering Square’s international status. Together with Salt Edge, Square enables its customers to meet the growing demand for transparent and secure financial data sharing, all while being compliant with the latest Open Banking regulations.” – according to the press release.
The partnership is particularly valuable for users of the recently launched Square Card in the UK. The card empowers underserved SMEs in the region to stay on top of their finances and manage them all in one place.
„By integrating Salt Edge’s full-stack Open Banking Compliance solution, Square customers can choose to share their data with banks and other regulated third-party providers through secure APIs. As a result, UK businesses can gain access to a variety of tailored financial services and personalised insights into their spending patterns, allowing for more control and informed decision-making.” – the company explained.
„We’re really excited to see the integration with Salt Edge go live. Square Card is a new product for us in the UK and an important solution for small businesses to manage cash flow, which we know is often the biggest blocker for starting and growing a business. Salt Edge offers APIs that enable businesses to share their data with other banks and financial institutions of their choosing, helping us to further streamline and simplify operations for our sellers, which allows them to run, thrive, and grow.” – said Samina Hussain-Letch, Executive Director at Square UK.
„The collaboration between Square and Salt Edge comes at a crucial time for small and medium-sized businesses in the UK, where managing cash flow is essential for growth. Salt Edge’s full-stack Open Banking Compliance solution seamlessly integrates with Square’s ecosystem, enabling businesses to securely share their financial data with banks and regulated third-party providers of their choice. This feature helps Square customers maintain better control over their finances, ensuring smoother cash flow management and allowing them to respond more quickly to market demands.” – said Andrei Scutari, Open Banking Head of Sales and Country Manager at Salt Edge.
___________
Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Clearpay, staff management and payroll capabilities, and much more—all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their businesses and help them thrive in the economy.
Salt Edge is a financial API platform with PSD2 and open banking solutions for every business. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway and developing the technology necessary for banks to become compliant with the directive’s requirements. The company is integrated with 5,000+ financial institutions in 50+ countries.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
